Avison Young in Los Angeles - Santa Monica
Santa Monica is a beachfront city in western Los Angeles County that encompasses 8.42 square miles. With its ideal climate and resort-like appeal, over 90,000 people reside in Santa Monica.
Located along the Santa Monica Bay, the city is bordered by Pacific Palisades on the northwest, Brentwood on the north, West Los Angeles on the northeast, Mar Vista on the east, and Venice on the southeast. Santa Monica is the twentieth most populous city in Los Angeles County and consists of a dynamic mixture of affluent single-family neighborhoods, renters, tourists, professionals and students.
Nearly 20 percent of Santa Monica’s residents work within the city and enjoy a high quality of life that is rich with amenities. Major retail centers include the world-famous Third Street Promenade, Santa Monica Place, Montana Avenue and Main Street. Renowned chains and local brands line the retail landscape of Santa Monica. Over 7.3 million visitors come to Santa Monica annually and generate $1.53 billion in tourism dollars. The prominent tourism industry is responsible for over 12,200 jobs. Over 70% of hotel visitors do not use a car once they arrive in Santa Monica, punctuating the ease of mobility within the city.
Lined with entertainers and vendors, the Santa Monica Pier is famous for leisure, dining, and fishing. Other notable landmarks and attractions include the Santa Monica Mountains, the Santa Monica Steps, the 26-Mile Bike Path, museums, and the Playhouse.
Santa Monica is home to internationally known businesses, as well as local companies. The city is integrated in the “Silicon Beach” corridor, a 3-mile stretch between Santa Monica and Playa del Rey that is heavily populated by technology, media and entertainment companies. In recent years, more than 600 technology startups have sprouted in Santa Monica and its environs. The surge in demand is attracting developers, who are renovating old and abandoned buildings, using creative office models of open and collaborative workspaces. Office vacancies in Downtown Santa Monica are below 7 percent. With such a high demand for space and a limited supply, companies have been forced to locate in adjacent cities where the proximity is key.